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Student loan forgiveness is a flowery name for a program that takes the debt of one group of people and passes it on to the American taxpayers.
All debts are paid. There is no such thing as “loan forgiveness.” If you don’t pay back a loan, the responsibility falls on someone else.
Six Republican-led states have filed a lawsuit against President Joe Biden over his administration’s student loan forgiveness plan.
The Secretary of Education Miguel Cardona and the Department of Education are also named in the suit.
The president’s plan involves using taxpayer money to erase the student debts of college-educated people.
Most Americans see this as a plan to wipe out the debt of the Democrat’s base to buy their votes for the midterm elections.
What about the people who responsibly paid off their debts? What about those who worked during college without getting a student loan?
What about the people who chose not to go to college because it was too expensive and they didn’t want the debt? Now they have to pay off the loans of other people?
Arkansas Attorney General Leslie Rutledge announced the lawsuit. It accuses the Biden administration of violating federal law when the Biden Administration attempted to cancel student loan debt earlier this year categorically.
The suit claims Biden violated federal law, the constitutional principle of separation of powers, and the Administrative Procedure Act when he bypassed Congress to push through his plan.
The attorney general said, “President Biden’s unlawful political play puts the self-wrought college-loan debt on the backs of millions of hardworking Americans who are struggling to pay their utility bills and home loans in the midst of Biden’s inflation.”
“President Biden does not have the power to arbitrarily erase the college debt of adults who chose to take out those loans.”
The states of Iowa, Kansas, Missouri, Nebraska, and South Carolina are joining Arkansas in the suit.
Many political pundits have reminded us that Nancy Pelosi once stated as Speaker of the House that the president doesn’t have the authority to forgive student debt.
She said, “People think the President of the United States has the power for debt forgiveness. He does not.”
“That has to be an act of Congress,” she continued. “And I don’t even like to call it forgiveness because that implies a transgression. It’s not to be forgiven, just freeing people from those obligations.”
The lawsuit points out that the president knew that he did not have the authority to cancel student debt. He attempted to work with Congress to find a solution to the student loan crisis.
“After Congress routinely failed to pass legislation addressing the issue, Biden attempted to unilaterally act far beyond the authority granted to him by the Constitution.”
“This action will result in approximately half a trillion dollars in losses to the federal treasury and contribute to the already rampant inflation the nation is experiencing.”